First read "Joint and Several Note." A "joint note" is one signed by two or more persons, but the wording of which begins "We promise to pay" - the words " joint and several " must not be inserted. In case the note is not paid at maturity, the holder must get judgment against all the signers, and take out a "joint" execution against them all; but then he can proceed to satisfy the judgment out of the property of any one of the signers. The ordinary note of a firm, as Small & Bigelow, is a "joint note," as well as a note signed by two or more individuals.

Joint-Stock Bank. This is a term used in Great Britain rather than America, and refers to the incorporated banks; that is, banks whose ownership is represented by shares of stock, much the same as our " national banks." It is used to designate the incorporated banks from the Bank of England and from private bankers. The "joint-stock banks " all keep their "reserve" with the Bank of England. The English "joint-stock bank" came into existence during the fourth decade of the nineteenth century.

In a treatise upon the Athenian revenue published by Xenophon will be found the first suggestion for the creation of a "joint-stock bank."